RESOURCE GENERATION LIMITED - CEO Contract Extension

CEO Contract Extension

Resource Generation Limited
Registered in Australia under the Corporations Act, 2001 (Cth) with
registration number ACN: 059 950 337
ISIN: AU000000RES1
Share Code on the ASX: RES
Share Code on the JSE: RSG
(“Resource Generation” or the “Company”)


26 October 2017
ASX Announcement


                                                                   CEO Contract Extension

On 26 February 2016, the Company informed shareholders that the Board had approved a minimum
two-year employment contract with Rob Lowe as Chief Executive Officer. This contract is due to expire
on 31 December 2017.

Given the current state of negotiations with proposed financiers, the Board believes it is in the
Company’s best interests to secure the services of Rob Lowe as Chief Executive Office for at least a
further 12 months.

The extension of the service period has been documented as a variation to the existing service
contract with all remaining contractual terms unchanged. In accordance with ASX Listing Rule 3.16.4
the material terms are summarized below:

      .      Subject to a minimum term of 3 years from 1 January 2016, the Company may terminate the
             contract for misconduct, poor work performance, incapacity or operational requirements;
      .      Subject to the minimum term either party may terminate the employment contract by serving
             the other with one calendar month notice;
      .      Total fixed remuneration AUD800,000 (inclusive of all employment costs) with the next
             review to occur on 1 July 2018 based on factors determined by the Company;
      .      Participation in a bonus scheme under which there is the opportunity to earn a maximum of
             50% of fixed remuneration subject to seven key performance indicators (the principal KPI
             being securing project finance) to be assessed on a financial year basis. The award of such
             bonus being at the absolute discretion of the Remuneration Committee; and
      .      The Company may issue the employee with performance shares as determined by the
             Board from time to time.



Mike Meintjes
Resource Generation Australia (ACN 059 950 337)
c/o Level 1, 17 Station Road, Indooroopilly, QLD, 4068
GPO Box 126, Albion QLD 4010. Phone +27 (012) 345 1057 Fax +27 (012) 345 5314
Directors: Denis Gately (Chairman), Lulamile Xate (Deputy Chairman), Robert Croll, Dr. Konji Sebati,
Colin Gilligan, Leapeetswe Molotsane, Manish Dahiya                                                    www.resgen.com.au
CEO: Rob Lowe
Company secretary: Mike Meintjes
Company Secretary
For and on behalf of the Board




About Resgen:

Resource Generation Limited (Resgen) is an emerging ASX and JSE-listed energy company,
currently developing the Boikarabelo Coal Mine in South Africa’s Waterberg region. The Waterberg
accounts for around 40% of the country’s currently known coal resources. The Coal Resources and
Reserves for the Boikarabelo Coal Mine, held through the operating subsidiary Ledjadja Coal, were
recently updated based upon a new mine plan and execution strategy. The Boikarabelo Coal
Resources total 995Mt and the Coal Reserves total 267Mt applying the JORC Code 2012 (ASX
Announcement :23 January 2017- In accordance with Listing Rule 5.23.2 the Company confirms that
it is not aware of any new information that would impact on the Reported Coal Resources and Coal
Reserves). Stage 1 of the mine development targets saleable coal production of 6 million tonnes per
annum. Ledjadja Coal is a Black Economic Empowerment subsidiary (BEE) operating under South
Africa’s Broad-based Black Economic Empowerment Act, Section 9(5): Codes of Good Practice

ResGen’s primary shareholders are the Public Investment Corporation of South Africa (PIC), Noble
Group and Altius Investment Holdings.



For further information please contact:

Mike Meintjes, Company Secretary on mmeintjes@resgen.com.au or +61 413 706 143

Media enquiries:

Australia: Martin Debelle on + 61 282 340 102

South Africa: Marion Brower/ Charmane Russell on +27 11 880 3924

JSE Sponsor: Deloitte & Touche Sponsor Services (Pty) Ltd




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